Wells Fargo & Company Increases AnaptysBio (NASDAQ:ANAB) Price Target to $81.00

AnaptysBio (NASDAQ:ANAB) had its price objective raised by investment analysts at Wells Fargo & Company from $51.00 to $81.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the biotechnology company’s stock. Wells Fargo & Company‘s price objective indicates a potential upside of 133.72% from the stock’s current price.

Several other brokerages have also recently weighed in on ANAB. Guggenheim upped their price objective on shares of AnaptysBio from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Wednesday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of AnaptysBio in a research note on Wednesday, October 8th. Wedbush upped their price objective on shares of AnaptysBio from $45.00 to $70.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 15th. Barclays began coverage on shares of AnaptysBio in a research note on Monday, October 13th. They set an “overweight” rating and a $78.00 price objective on the stock. Finally, UBS Group reaffirmed a “neutral” rating and set a $20.00 price objective (up from $18.00) on shares of AnaptysBio in a research note on Tuesday, August 12th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $61.30.

AnaptysBio Trading Down 0.2%

NASDAQ ANAB traded down $0.08 on Wednesday, reaching $34.66. The company’s stock had a trading volume of 46,622 shares, compared to its average volume of 698,062. The firm has a market cap of $970.40 million, a PE ratio of -7.74 and a beta of 0.16. The business has a 50-day moving average price of $27.75 and a 200 day moving average price of $24.37. AnaptysBio has a 52 week low of $12.21 and a 52 week high of $39.78.

AnaptysBio (NASDAQ:ANAB) last posted its earnings results on Tuesday, November 4th. The biotechnology company reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of ($1.06) by $1.58. The business had revenue of $76.32 million for the quarter, compared to analysts’ expectations of $15.83 million. AnaptysBio had a negative net margin of 107.66% and a negative return on equity of 366.98%. Analysts anticipate that AnaptysBio will post -6.08 earnings per share for the current fiscal year.

Hedge Funds Weigh In On AnaptysBio

Several large investors have recently bought and sold shares of the business. Bessemer Group Inc. lifted its holdings in AnaptysBio by 950.0% in the third quarter. Bessemer Group Inc. now owns 1,428 shares of the biotechnology company’s stock valued at $44,000 after buying an additional 1,292 shares during the period. AlphaQuest LLC acquired a new stake in AnaptysBio in the third quarter worth $277,000. New York State Common Retirement Fund raised its holdings in AnaptysBio by 33.6% in the third quarter. New York State Common Retirement Fund now owns 10,586 shares of the biotechnology company’s stock worth $324,000 after purchasing an additional 2,662 shares during the period. Federated Hermes Inc. raised its holdings in AnaptysBio by 2,236.6% in the third quarter. Federated Hermes Inc. now owns 193,327 shares of the biotechnology company’s stock worth $5,920,000 after purchasing an additional 185,053 shares during the period. Finally, Covestor Ltd raised its holdings in AnaptysBio by 131,540.0% in the third quarter. Covestor Ltd now owns 6,582 shares of the biotechnology company’s stock worth $201,000 after purchasing an additional 6,577 shares during the period.

About AnaptysBio

AnaptysBio, Inc, a clinical-stage biotechnology company, focuses in delivering immunology therapeutics. Its products include Rosnilimab, an IgG1 antibody that targets PD-1+ T cells, resulting in their agonism or depletion, broadly impacting pathogenic drivers of autoimmune and inflammatory diseases; and ANB032, a non-depleting antibody that binds to the BTLA checkpoint receptor and inhibits activated T cell proliferation; ANB033, a novel anti-CD122 antagonist antibody that targets the shared common beta subunit of the receptors for IL-15 and IL-2; ANB101, a BDCA2 modulator antibody that specifically targets plasmacytoid dendritic cells (pDCs); and Imsidolimab, an antibody that inhibits the interleukin-36 receptor, which is in the Phase 3 development for the treatment of generalized pustular psoriasis.